Ithaca Energy PLC Issue of Shares to the Employee Benefit Trust (6968O)
04 Octubre 2023 - 6:01AM
UK Regulatory
TIDMITH TIDMTTM
RNS Number : 6968O
Ithaca Energy PLC
04 October 2023
4 October 2023
Ithaca Energy plc
("Ithaca Energy" or the "Company")
Issue of Shares to the Employee Benefit Trust
and
Total Voting Rights
Ithaca Energy, a leading UK independent exploration and
production company, today announces the proposed issue and
allotment of 7,807,305 new ordinary shares in the capital of the
Company of GBP0.01 each (the "New Shares") intended to be
subscribed for at nominal value by Computershare Trustees (Jersey)
Limited (the "Trustee"), as trustee of The Ithaca Energy Plc
Employee Benefit Trust (the "EBT"). The issue and allotment of the
New Shares announced today will enable the newly formed EBT to
satisfy share options and other incentive awards granted to
employees of the Company pursuant to the Company's various employee
share incentive plans, following the vesting of such options and
awards.
The subscription costs for the New Shares will be funded by way
of a loan from the Company to the Trustee. The New Shares will rank
pari passu in all respects with the Company's existing ordinary
shares.
Admission and Total Voting Rights
Applications have been made to the FCA for admission of the New
Shares to the premium listing segment of the Official List of the
FCA and to the London Stock Exchange for admission of the Shares to
trading on the main market for listed securities of the London
Stock Exchange ("Admission"). It is expected that Admission will
become effective on 5 October 2023.
Following Admission, the total number of shares in issue in the
Company will be 1,014,372,281. The Company does not hold any shares
in treasury and all shares have equal voting rights. Therefore, the
total number of voting rights in the Company, following Admission,
will be 1,014,372,281. This figure may be used by shareholders as
the denominator for the calculations by which they will determine
if they are required to notify their interest in, or a change to
their interest in, Ithaca Energy under the Financial Conduct
Authority's Disclosure Guidance and Transparency Rules.
Enquiries
Ithaca Energy
Kathryn Reid - Head of Investor Relations, kathryn.reid@ithacaenergy.com
Corporate Affairs & Communications
FTI Consulting (PR Advisers to Ithaca
Energy) +44 (0)203 727 1000
Ben Brewerton / Nick Hennis ithaca@fticonsulting.com
About Ithaca Energy plc
Ithaca Energy is a leading UK independent exploration and
production company focused on the UK North Sea with a strong track
record of material value creation. In recent years, the Company has
been focused on growing its portfolio of assets through both
organic investment programmes and acquisitions and has seen a
period of significant M&A driven growth centred upon two
transformational acquisitions in recent years. Today, Ithaca Energy
is one of the largest independent oil and gas companies in the
United Kingdom Continental Shelf (the "UKCS"), ranking second by
resources.
With stakes in six of the ten largest fields in the UKCS and two
of UKCS's largest pre-development fields, and with energy security
currently being a key focus of the UK Government, the Group
believes it can utilise its significant reserves and operational
capabilities to play a key role in delivering security of domestic
energy supply from the UKCS.
Ithaca Energy serves today's needs for domestic energy through
operating sustainably. The Group achieves this by harnessing Ithaca
Energy's deep operational expertise and innovative minds to
collectively challenge the norm, continually seeking better ways to
meet evolving demands.
Ithaca Energy's commitment to delivering attractive and
sustainable returns is supported by a well-defined
emissions-reduction strategy with a target of achieving net zero by
2040.
Ithaca Energy plc was admitted to trading on the London Stock
Exchange (LON: ITH) on 14 November 2022.
-ENDS-
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